Time for free credit report, but not all three at once

You can almost see them dancing and singing about getting the free credit report, a message delivered behind the very creative lyrics mouthed by actors who convince you it’s really them singing.[photopress:credit_report.jpg,full,alignright]

Catchy. And important, too.

The back story on the commercial (Eric Violette is the “singer” you might recall in the pirate outfit) is that it was getting increasingly confusing for consumers to locate the actual website that offers their free credit report, a federal entitlement since November 2003 when Congress passed the Fair and Accurate Credit Transactions (FAIR) Act.

Among other things, the law entitles all Americans to a free copy of their credit report from each of the main three credit reporting agencies — Equifax, TransUnion and Experian — once every 12 months.

Sadly, it turned into open season for virtually every website name derivative imaginable, each seemingly offering the same free report but not before consumers were peppered with offers for every monitoring service and identity theft prevention service conceivable. Hence the dudes singing about FreeCreditReport dot com. Nope, not where you’d get the freebie; yup, where you’ll be banged with ads. All of it care of Experian, the very same reporting agency that’s required by the FACT Act to give it up free.

Too many other websites with nearly the same names seem to come to mind rather than the one-true website that handles it quickly, easily and free: www.AnnualCreditReport.com .

What many folks forget, however, is that the “annual” isn’t a calendar year thing but, rather, a 12-month time frame. So, should you obtain one report in March, you’d not be entitled to another free one until at least the same day the following March (and, no, I’ve not forgotten about Leap Year next year, so kindly don’t bother pointing it out).

The folks in the know, however, use the 12-month rule to their best advantage. Rather than obtain all three reports at the same time — which you are legally entitled to do — they spread their requests over a four-month period, asking for a different report each time.

In that way, for instance, you’ll obtain your Experian report in January, your TransUnion report in May, and your Equifax report in September. Then repeat the process the following year.

The critical information here is to know if there’s any adverse information on your report that needs addressing, or worse, evidence of identity theft or fraud. Remember, should you locate such an item, you’ll have to retrieve the other two reports for a nominal fee since that request would fall under the 12-month free window.

There’s much more information on the website at this location . It’s a great idea to read through it for anything that might apply to your situation.

I just ordered my Experian report via the website, which is quite secure and sends you to the proprietary site. Nothing to fear. It’s all good.

Do remember, though, that a credit report is NOT your credit score, which is the proprietary property of the reporting agency. That means it’s not free. Even if a website offers you a free credit score, it’s likely not to be the FICO score used by creditors looking to grant you a loan or credit card. Many reporting bureaus, including the Big 3, have their own scores, too, separate from the FICO score. Be leery. Be sure you order the right one.

Too, even if you’re offered one for free, it’s likely attached to some other monitoring service that most credit counseling services will say is unnecessary. Unless, of course, you are the victim of identity theft or a related crime, such as credit card number skimming. In that case you’re likely entitled to a year’s worth of free monitoring anyway.

If you want to see your real scores, such as when you apply for a mortgage or refinance or a car loan, ask to see it. After all, chances are you paid for them to run the report; you should be entitled to look at what you’ve paid to have done.

Any suggestions for a person who needs to be able to check credit on potential renters? Without a large rental operation, I wonder if there’s a safe source for those checks that’s also economical for someone who is lucky to break even on rental property. Keeping a rental from sinking the boat is a challenge.

Laura Keeney writes about aerospace and airlines for The Post. When she's not at work, you can usually find her taking in live music, reading voraciously, or doing something science-related and nerdy. She also loves The Clash ... a lot.

Emilie Rusch covers retail and commercial real estate for The Post. A Wisconsin native and Mizzou graduate, she moved to Colorado in 2012. Before that, she worked at a small daily newspaper in South Dakota. It's the one with Mount Rushmore.